Sylvia wants to expand her taxidermy business and is going to use profits from the business to do so. This is an example of using ________ for her expansion
A) retained earnings B) direct finance C) dividends D) indirect finance
A
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Refer to the following graph. When the price falls from $10 to $8, demand
a. is most elastic if the demand curve is D2.
b. is most elastic if the demand curve is D.
c. is most elastic if the demand curve is D1.
d. is most inelastic if the demand curve is D.
In the presence of pollution, social welfare is maximized by
A) reducing output and pollution until marginal benefit of less pollution is equal to the marginal cost of less output. B) reducing output and pollution until the benefit curve (of less pollution) and cost curve (of less output) intersect. C) reducing output and pollution until the benefits of pollution reduction just cover the costs of output reduction. D) None of the above.
In long-run equilibrium in perfect competition, every firm is producing at minimum average cost
a. True b. False Indicate whether the statement is true or false
According to the textbook, the most important and enduring source of market power is:
A. government franchises. B. economies of scale. C. copyrights. D. patents.